GRAIL (NASDAQ:GRAL) Shares Climb 5.1% - Time to Buy?

Key Points

• GRAIL shares rose 5.1% to approximately $158.33, with trading volume substantially below the stock’s average daily volume. The company has a $7.0 billion market capitalization and trades well above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: five analysts rate GRAIL a Buy, six rate it Hold, and one rates it Sell. The consensus rating is Hold, with a $119.80 average price target, below the current share price.
• GRAIL exceeded quarterly expectations, reporting an adjusted loss of $2.56 per share versus the expected $2.66 loss and revenue of $44.69 million versus the $42.39 million consensus estimate. However, company insiders have sold nearly 130,000 shares worth about $14.8 million over the past 90 days.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s share price was up 5.1% during mid-day trading on Wednesday. The company traded as high as $158.87 and last traded at $158.3330. Approximately 230,451 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 969,547 shares. The stock had previously closed at $150.61.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GRAL. Robert W. Baird increased their target price on shares of GRAIL from $96.00 to $118.00 and gave the stock an "outperform" rating in a report on Tuesday, September 22nd. TD Cowen lifted their price target on shares of GRAIL from $88.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of GRAIL in a research report on Thursday, October 15th. Canaccord Genuity Group increased their price objective on shares of GRAIL from $80.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, September 28th. Finally, Guggenheim raised their target price on shares of GRAIL from $75.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, October 1st. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $119.80.

GRAIL Stock Performance

The business's fifty day moving average is $107.27 and its 200-day moving average is $77.77. The firm has a market cap of $7.00 billion, a P/E ratio of -16.13 and a beta of 2.83.

GRAIL (NASDAQ:GRAL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($2.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.66) by $0.10. The business had revenue of $44.69 million during the quarter, compared to analyst estimates of $42.39 million. Analysts predict that GRAIL, Inc. will post -10.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 23,619 shares of the firm's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $146.39, for a total transaction of $3,457,585.41. Following the completion of the transaction, the chief financial officer directly owned 225,364 shares of the company's stock, valued at $32,991,035.96. This trade represents a 9.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joshua Ofman sold 20,000 shares of GRAIL stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $136.85, for a total value of $2,737,000.00. Following the transaction, the chief executive officer directly owned 342,271 shares in the company, valued at $46,839,786.35. The trade was a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,944 shares of company stock valued at $14,832,805 over the last 90 days. 1.83% of the stock is owned by insiders.

Hedge Funds Weigh In On GRAIL

A number of hedge funds have recently made changes to their positions in GRAL. North Star Investment Management Corp. boosted its holdings in GRAIL by 809.1% in the third quarter. North Star Investment Management Corp. now owns 300 shares of the company's stock valued at $42,000 after acquiring an additional 267 shares during the last quarter. Root Financial Partners LLC bought a new position in GRAIL during the 3rd quarter worth approximately $44,000. SBI Securities Co. Ltd. lifted its position in shares of GRAIL by 110.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 388 shares of the company's stock worth $54,000 after purchasing an additional 204 shares during the period. Fifth Third Bancorp lifted its position in shares of GRAIL by 15,733.3% in the 1st quarter. Fifth Third Bancorp now owns 475 shares of the company's stock worth $25,000 after purchasing an additional 472 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of GRAIL in the 2nd quarter worth approximately $35,000.

GRAIL Company Profile

GRAIL, Inc NASDAQ: GRAL is a healthcare company focused on developing blood-based screening technologies for the early detection of cancer. Its principal product is Galleri, a multi-cancer early detection test designed to identify DNA patterns associated with multiple types of cancer from a single blood sample.

Galleri is intended for use alongside recommended cancer screenings and is available by prescription through qualified healthcare providers in the United States. The test is offered as a laboratory-developed test and has not been approved or cleared by the U.S.

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